Chicago Nikkei futures (CME) (2nd).

SEP24

O 36755 (USD) H 36800 L 34425 C 35020 Tokyo Stock Exchange -900 (Evening - 220) Vol 22995 O 36700 (JPY) H 36745 L 34355 C 34950 Tokyo Stock Exchange -970 (Evening +150) Vol 63806

In the ADR market, compared to the Tokyo Stock Exchange (converted at a rate of 1 dollar to 146.57 yen), Yucho Bank (7182), Nintendo Co Ltd (7974), Japan Tobacco Inc (2914), Mitsubishi Electric Corp. unsponsored ADR (6503), MS&AD Insurance Group Holdings Inc (8725), Mitsubishi UFJ Financial Group Inc (8306), and Renesas Electronics Corp (6723) all fell, with overall selling pressure.

SEP24

Overview of American Depositary Receipts (ADRs) on the 2nd

In the ADR market, compared to the Tokyo Stock Exchange (converted at a rate of 1 dollar to 146.57 yen), Yucho Bank (7182), Nintendo Co Ltd (7974), Japan Tobacco Inc (2914), Mitsubishi Electric Corp. sponsored ADR (6503), MS&AD Insurance Group Holdings Inc (8725), Mitsubishi UFJ Financial Group Inc (8306), and Renesas Electronics Corp (6723) all fell, with overall selling pressure.

Code Company Name Closing Price Price Difference Converted Price Closing Price in Japan

7203 (TM.N) Toyota Motor Corp 173.02 -6.05 2536 -49

8306 (MUFG.N) Mitsubishi UFJ Financial Group Inc 9.82 -1.23 1439 -77

8035 (TOELY) Tokyo Electric Power Co Holdings Inc 88.38 -8.03 25908 -1147

6758 (SONY.N) Sony Corp 81.61 -3.32 11962 -253

9432 (NTTYY) Nippon Telegraph and Telephone Corp 25.55 -0.02 150 -2.9

8058 (MTSUY) Mitsubishi Corp 18.59 -1.79 2725 -114

6501 (HTHIY) Hitachi Ltd sponsored ADR 40.39 -3.96 2960 -133

9983 (FRCOY) Fast Retailing Co Ltd 27.04 0.66 39633 -707

9984 (SFTBY) SoftBank Group 25.89 -1.45 7589 -279 4063 (SHECY) Shin-Etsu Chemical Industry 19.48 -1.31 5710 -211 8001 (ITOCY) Itochu Corporation 90.52 -5.08 6634 -250 8316 (SMFG.N) Sumitomo Mitsui Financial Group 12.53 -1.55 9183 -479 8031 (MITSY) Mitsui & Co., Ltd. 394.66 -50.00 2892 -148 6098 (RCRUY) Recruit Holdings Co., Ltd. 10.43 -0.42 7644 -238 4568 (DSNKY) Daiichi Sankyo Co., Ltd. 36.38 -1.38 5332 -138 9433 (KDDIY) KDDI Corporation 14.68 0.30 4303 -73 7974 (NTDOY) Nintendo Co., Ltd. 11.89 -1.32 6971 -944 8766 (TKOMY) Tokyo Marine Holdings, Inc. 33.05 -3.24 4844 -202 7267 (HMC.N) Honda Motor Co., Ltd. 30.03 -0.95 1467 -55 2914 (JAPAY) Japan Tobacco Inc. 13.15 -0.77 3855 -298 6902 (DNZOY) Denso Corporation 14.57 -0.35 2136 -104 4519 (CHGCY) Chugai Pharmaceutical Co., Ltd. 21.43 0.44 6282 -118 4661 (OLCLY) Oriental Land Co., Ltd. 26.64 -0.22 3905 -109 8411 (MFG.N) Mizuho Financial Group, Inc. 4.07 -0.44 2983 -71 6367 (DKILY) Daikin Industries, Ltd. 13.20 -0.48 19347 -518 4502 (TAK.N) Takeda Pharmaceutical Company Limited 14.08 0.23 4127 -61 7741 (HOCPY) Hoya Corporation 116.00 -6.22 17002 -583 6503 (MIELY) Mitsubishi Electric Corp. Unsponsored ADR 28.19 -2.05 2066 -134

4063 (SHECY) Shin-Etsu Chemical Industry 19.48 -1.31 5710 -211

8001 (ITOCY) Itochu Corporation 90.52 -5.08 6634 -250

8316 (SMFG.N) Sumitomo Mitsui Financial Group 12.53 -1.55 9183 -479

8031 (MITSY) Mitsui & Co., Ltd. 394.66 -50.00 2892 -148

6098 (RCRUY) Recruit Holdings Co., Ltd. 10.43 -0.42 7644 -238

4568 (DSNKY) Daiichi Sankyo Co., Ltd. 36.38 -1.38 5332 -138

9433 (KDDIY) KDDI Corporation 14.68 0.30 4303 -73

7974 (NTDOY) Nintendo Co., Ltd. 11.89 -1.32 6971 -944

8766 (TKOMY) Tokyo Marine Holdings, Inc. 33.05 -3.24 4844 -202

7267 (HMC.N) Honda Motor Co., Ltd. 30.03 -0.95 1467 -55

2914 (JAPAY) Japan Tobacco Inc. 13.15 -0.77 3855 -298

6902 (DNZOY) Denso Corporation 14.57 -0.35 2136 -104

4519 (CHGCY) Chugai Pharmaceutical Co., Ltd. 21.43 0.44 6282 -118

4661 (OLCLY) Oriental Land Co., Ltd. 26.64 -0.22 3905 -109

8411 (MFG.N) Mizuho Financial Group, Inc. 4.07 -0.44 2983 -71

6367 (DKILY) Daikin Industries, Ltd. 13.20 -0.48 19347 -518

4502 (TAK.N) Takeda Pharmaceuticals Sp ADR 14.08 0.23 4127 -61

7741 (HOCPY) Hoya Corporation 116.00 -6.22 17002 -583

6503 (MIELY) Mitsubishi Electric Corp. Unsponsored ADR 28.19 -2.05 2066 -134

6981 (MRAAY) Murata Manufacturing Co., Ltd., 9.82, -0.42, 2879, -109.5 7751 (CAJPY) Canon Inc., 27.97, -0.61, 4100, -123 6273 (SMCAY) SMC Corporation, 22.46, -0.81, 65839, -1661 7182 (JPPTY) Japan Post Bank Co., Ltd., 9.05, -0.75, 1326, -184.5 6146 (DSCSY) Disco Corporation, 28.90, -0.80, 42359, -2241 3382 (SVNDY) Seven & I Holdings Co., Ltd., 11.94, 0.11, 1751, -40 8053 (SSUMY) Sumitomo Corporation, 21.96, -1.45, 3219, -136 6702 (FJTSY) Fujitsu Limited, 15.91, -1.33, 2332, -68.5 6201 (TYIDY) Toyota Industries Corporation, 71.50, -4.00, 10480, -535 5108 (BRDCY) Bridgestone Corporation, 19.04, -0.43, 5581, -143 6178 (JPPHY) Japan Post Holdings Co., Ltd., 10.00, 0.00, 1466, -39 8002 (MARUY) Marubeni Corporation, 156.03, -14.34, 2287, -120 6723 (RNECY) Renesas Electronics Corporation, 7.10, -0.39, 2081, -111 6954 (FANUY) FANUC Corporation, 13.53, -0.36, 3966, -102 8725 (MSADY) MS&AD Insurance Group Holdings, Inc., 19.80, -2.25, 2902, -168 8801 (MTSFY) Mitsui Fudosan Co., Ltd., 27.80, -0.80, 1358, -13 6301 (KMTUY) Komatsu Ltd., 25.51, -1.02, 3739, -149 4901 (FUJIY) Fujifilm Holdings Corporation, 10.57, -0.50, 3098, -101 6594 (NJDCY) Nidec Corporation, 10.26, -0.54, 6015, -251 6857 (ATEYY) Advantest Corporation, 41.40, -1.70, 6068, -245

7751 (CAJPY) Canon Inc., 27.97, -0.61, 4100, -123

6273 (SMCAY) SMC Corporation, 22.46, -0.81, 65839, -1661

7182 (JPPTY) Japan Post Bank Co., Ltd., 9.05, -0.75, 1326, -184.5

6146 (DSCSY) Disco Corporation, 28.90, -0.80, 42359, -2241

3382 (SVNDY) Seven & I Holdings Co., Ltd., 11.94, 0.11, 1751, -40

8053 (SSUMY) Sumitomo Corporation, 21.96, -1.45, 3219, -136

6702 (FJTSY) Fujitsu Limited, 15.91, -1.33, 2332, -68.5

6201 (TYIDY) Toyota Industries Corporation, 71.50, -4.00, 10480, -535

5108 (BRDCY) Bridgestone Corporation, 19.04, -0.43, 5581, -143

6178 (JPPHY) Japan Post Holdings Co., Ltd., 10.00, 0.00, 1466, -39

8002 (MARUY) Marubeni Corporation, 156.03, -14.34, 2287, -120

6723 (RNECY) Renesas Electronics Corporation, 7.10, -0.39, 2081, -111

6954 (FANUY) FANUC Corporation, 13.53, -0.36, 3966, -102

8725 (MSADY) MS&AD Insurance Group Holdings, Inc., 19.80, -2.25, 2902, -168

8801 (MTSFY) Mitsui Fudosan Co., Ltd., 27.80, -0.80, 1358, -13

6301 (KMTUY) Komatsu Ltd., 25.51, -1.02, 3739, -149

4901 (FUJIY) Fujifilm Holdings Corporation, 10.57, -0.50, 3098, -101

6594 (NJDCY) Nidec Corporation, 10.26, -0.54, 6015, -251

6857 (ATEYY) Advantest 41.40 -1.70 6068 -245

4543 (TRUMY) Terumo 16.42 -0.81 2407 -57.5 8591 (IX.N) Orix 105.68 -6.98 3098 -83 (top 50 market capitalization, conversion rate of $ 1 to 146.57 yen) 4689 (YAHOY) LINE Yahoo 5.10 374 23.4 6.67 2801 (KIKOY) Kikkoman 24.10 1766 36.5 2.11 2587 (STBFY) Suntory food 17.46 5118 4 0.08 1925 (DWAHY) Daiwa House 27.43 4020 -24 -0.59 8801 (MTSFY) Mitsui Fudosan 27.80 1358 -13 -0.95 8750 (DLICY) Dai-ichi Life Holdings 24.00 3518 -593 -14.42 7182 (JPPTY) Japan Post Bank 9.05 1326 -184.5 -12.21 7974 (NTDOY) Nintendo Co Ltd 11.89 6971 -944 -11.93 9107 (KAIKY) Kawasaki Kisen 13.31 1951 -204 -9.47 2914 (JAPAY) Japan Tobacco Inc 13.15 3855 -298 -7.18 Closing price: 39737.26, Change from previous day: -610.71 Opening price: 40075.33, Highest price: 40075.33, Lowest price: 39358.68 Closing price: 16776.16, Change from previous day: -417.98 Opening price: 16780.45, Highest price: 16920.63, Lowest price: 16582.79 Closing price: 5346.56, Change from previous day: -100.12 Opening price: 5376.63, Highest price: 5383.89, Lowest price: 5302.03 US 30-year government bond yield: 4.113%, US 10-year government bond yield: 3.801%

(The exchange rate is 146.57 yen per $1.00 USD, top 50 market capitalization)

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Top 5 ADR gainers (as of 2nd)

コード 　 　 　 銘柄名 　 　 　 終値 日本円換算価格 日本終値比 （％）

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Top 5 ADR losers (as of 2nd)

コード 　 　 　 銘柄名 　 　 　 終値 日本円換算価格 日本終値比 （％）

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US stock market overview (as of 2nd)

NYDOW

Closing price: 39737.26, Change from previous day: -610.71

Opening price: 40075.33, Highest price: 40075.33, Lowest price: 39358.68

Year-to-Date High: 41198.08 Year-to-Date Low: 37266.67

Previous Year High: 37,710.10, Previous Year Low: 31,819.14

NASDAQ

Closing price: 16776.16, Change from previous day: -417.98

Opening price: 16780.45, Highest price: 16920.63, Lowest price: 16582.79

Year-to-date high: 18647.45 Year-to-date low: 14510.30.

Previous Year High: 15,099.18, Previous Year Low: 10,305.24

S&P 500

Closing price: 5346.56, Change from previous day: -100.12

Opening price: 5376.63, Highest price: 5383.89, Lowest price: 5302.03

Year-to-date high: 5667.20, year-to-date low: 4688.68.

Previous Year High: 4,783.35, Previous Year Low: 3,808.10

US 30-year government bond yield: 4.113%, US 10-year government bond yield: 3.801%

The US stock market fell sharply. The Dow Jones fell 610.71 dollars to 39,737.26 dollars, and the Nasdaq closed at 16,776.16, down 417.98 points.

After the July employment statistics fell below expectations, concerns about economic slowdown caused a decline. Concerns about economic recession also surfaced, and selling pressure persisted throughout the day. Some high-tech company earnings were disappointing, and the market expanded its losses towards the end of trading and closed lower. In terms of sectors, household and personal goods rose, while retail and banking fell.

Consumer goods maker Clorox (CLX) rose after its adjusted earnings per share and full-year financial estimates in its quarterly earnings report exceeded analyst predictions. Procter & Gamble (PG) and Colgate-Palmolive (CL) in the same industry were also bought.

Apple (AAPL) for mobile devices reported strong sales for the iPhone and growth in the service business, which pushed up overall revenue and profits in the second quarter. The outlook was also well received, resulting in an increase. On the other hand, online retailer Amazon (AMZN) fell after its quarterly earnings report showed weak retail sales and revenue fell below expectations, and the outlook was not good. Chevron (CVX) of the oil company was sold off after adjusted earnings per share in the second quarter fell below expectations. Intel (INTC) in the semiconductor industry continued to be sold off due to weak outlook and a 15% reduction in personnel and a suspension of dividends announced after the market closed.

The VIX index, which indicates investor fear, rose significantly to around 30, reaching the highest level since March of last year.

(Horiko Capital Management LLC)